Diesel price may be hiked by Rs 2 per litre, LPG by Rs 75 per cylinder

New Delhi: The government may hike diesel prices by Rs 1 per litre and LPG by Rs 50 to Rs 75 per cylinder by end of this month.

As per Zee Business, a meeting between Oil Marketing Companies and the Oil Minister was held on Tuesday in which both had agreed on hiking the prices of LPG and diesel. However, the final decision has to be taken by the Congress party which reportedly is not backing the hike in prices.

A meet of the congress party is stipulated for Friday in which it will decide on hiking the fuel prices, as per Zee Business.

Price of diesel, which currently costs Rs 47.15 per litre in Delhi, was last revised on September 14 when it was hiked by a steep Rs 5.63 per litre. Kerosene rates have not changed since June 2011 and it currently costs Rs 14.79 per litre in Delhi.

State-owned oil companies currently sell diesel at a loss of Rs 10.16 per litre, kerosene at Rs 32.17 a litre and LPG at Rs 490.50 per 14.2-kg cylinder.